Bikaji Foods International Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹11,321 Cr
- P/E
- 40.80
- ROE
- 17.85%
- PEG
- 1.58
- Price to sales
- 3.92
- Debt to equity
- 0.13
- 52W high / low
- ₹759 / ₹451
- Sales growth (5Y)
- 16.58%
- EBITDA margin
- 14.45%
- Net profit margin
- 9.81%
- Promoter holding
- 73.88%
- Sales (last year)
- ₹2,872 Cr
Bikaji Foods International Limited is one of India's largest fast-moving consumer goods ("FMCG") brands. The company's product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range, and cookies.[1]
Guidance scorecard · Q1 FY27 call
What Bikaji Foods International Ltd's management guided
and where it ranks in Food Products
Food Products
RevenueQ1 FY27 call
10–20%- The company targets mid-teens to high-teens growth in sales/revenue on a quarter-on-quarter basis, aiming for around 16% plus growth.
- Core markets are expected to grow between 13%-15%, with focus markets (where the company has a smaller presence) showing disproportionately higher growth.
- Exports are expected to eventually grow significantly, especially in the US market, with export business contribution potentially reaching about 5.5%-6% of overall business in 3-4 years.
- Packaged sweets are expected to grow around 12%-13% over the last year, particularly during the festive season (Q2 and Q3).
- Retail business through THF stores is expected to grow approximately 50-60% year-on-year for the next 3-4 years.
2 more points from Bikaji Foods International Ltd's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what Bikaji Foods International Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Bikaji Foods has a new ASRS investment nearing completion, adding approximately 1 lakh square feet in Bikaner for enhanced supply chain capacity, enabling storage of an additional 1.2 to 1.3 lakh cartons.
- The Nepal JV involves a capital investment of close to INR 15 Crores each from both parties, with plant construction underway; production expected to start in 8-9 months.
- Planned manufacturing diversification of core bhujia from Bikaner to two more plants within the year to mitigate labor issues and enhance production reliability.
- Retail expansion includes opening around 10 THF stores this year, targeting growth of 50-60% year-on-year for 3-4 years, scaling from 22 to over 35 stores this year and approximately 50 stores over the next 2.5-3 years.
2 more points from Bikaji Foods International Ltd's call on capex
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FundraisingQ1 FY27 call
See what Bikaji Foods International Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- GT (General Trade) commitments and demand plans for the next 3 months are very positive, indicating a strong order pipeline.
- No price increases are planned in the next 30 days, suggesting stable ongoing order flow.
- Export shipments have been deferred due to freight cost issues, impacting order fulfillment timing but not demand.
2 more points from Bikaji Foods International Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Food Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Food Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹459 Cr | 7.9 | |
| 2 | 40%+ | Up 2%+ | ₹454 Cr | 79.8 | |
| 3 | 40%+ | Flat | ₹1,061 Cr | 48.2 | |
| 4 | 40%+ | Flat | ₹157 Cr | 10.5 | |
| 5 | 20–40% | Up 2%+ | ₹671 Cr | 48.3 | |
| 6 | 20–40% | Up 2%+ | ₹265 Cr | 7.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Food Products rankingFinancials of Bikaji Foods International Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Bikaji Foods International Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 462 | 482 | 609 | 624 | 614 | 572 | 721 | 715 | 611 | 653 | 830 | 790 | 721 |
| Expenses + | 400 | 416 | 521 | 549 | 453 | 480 | 614 | 659 | 537 | 556 | 702 | 692 | 633 |
| Operating Profit | 62 | 66 | 88 | 75 | 161 | 92 | 107 | 55 | 74 | 96 | 128 | 98 | 88 |
| OPM % | 13% | 14% | 14% | 12% | 26% | 16% | 15% | 8% | 12% | 15% | 15% | 12% | 12% |
| Other Income + | 5 | 6 | 6 | 6 | 12 | 7 | 8 | 8 | 10 | 10 | 8 | 11 | 18 |
| Interest | 3 | 2 | 3 | 3 | 3 | 3 | 3 | 4 | 5 | 5 | 5 | 4 | 4 |
| Depreciation | 12 | 13 | 16 | 16 | 15 | 18 | 19 | 21 | 25 | 23 | 24 | 24 | 24 |
| Profit before tax | 51 | 56 | 75 | 62 | 155 | 78 | 93 | 39 | 55 | 79 | 107 | 82 | 77 |
| Tax % | 26% | 26% | 20% | 26% | 25% | 26% | 26% | 28% | 27% | 26% | 28% | 24% | 28% |
| Net Profit + | 38 | 41 | 60 | 46 | 116 | 58 | 69 | 28 | 40 | 59 | 78 | 62 | 56 |
| EPS in Rs | 1.51 | 1.67 | 2.45 | 1.86 | 4.64 | 2.33 | 2.76 | 1.14 | 1.78 | 2.39 | 3.18 | 2.48 | 2.25 |
Financials of Bikaji Foods International Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 1,075 | 1,311 | 1,611 | 1,966 | 2,329 | 2,622 | 2,994 |
| Expenses + | 979 | 1,166 | 1,471 | 1,752 | 1,937 | 2,292 | 2,583 |
| Operating Profit | 96 | 145 | 140 | 214 | 392 | 330 | 411 |
| OPM % | 9% | 11% | 9% | 11% | 17% | 13% | 14% |
| Other Income + | 8 | 11 | 10 | 23 | 27 | 32 | 47 |
| Interest | 6 | 3 | 7 | 11 | 11 | 16 | 18 |
| Depreciation | 34 | 33 | 38 | 49 | 60 | 82 | 95 |
| Profit before tax | 64 | 120 | 105 | 177 | 348 | 264 | 345 |
| Tax % | 11% | 25% | 28% | 23% | 24% | 27% | 26% |
| Net Profit + | 56 | 90 | 76 | 136 | 263 | 194 | 254 |
| EPS in Rs | 23.18 | 37.10 | 3.12 | 5.50 | 10.61 | 8.01 | 10.30 |
| Dividend Payout % | 9% | 5% | 3% | 14% | 9% | 12% | 12% |
Financials of Bikaji Foods International Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 24 | 24 | 25 | 25 | 25 | 25 | 25 |
| Reserves | 505 | 581 | 796 | 931 | 1,193 | 1,358 | 1,582 |
| Borrowings + | 54 | 87 | 160 | 170 | 166 | 231 | 299 |
| Other Liabilities + | 94 | 124 | 122 | 146 | 145 | 313 | 333 |
| Total Liabilities | 677 | 817 | 1,102 | 1,271 | 1,530 | 1,927 | 2,240 |
| Fixed Assets + | 407 | 423 | 511 | 661 | 812 | 986 | 1,034 |
| CWIP | 3 | 36 | 49 | 70 | 12 | 98 | 150 |
| Investments | 36 | 69 | 126 | 20 | 31 | 56 | 44 |
| Other Assets + | 230 | 290 | 416 | 520 | 674 | 787 | 1,011 |
| Total Assets | 677 | 817 | 1,102 | 1,271 | 1,530 | 1,927 | 2,240 |
Financials of Bikaji Foods International Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 55 | 117 | 57 | 171 | 245 | 193 | 304 |
| Cash from Investing Activity + | -58 | -114 | -232 | -123 | -199 | -122 | -289 |
| Cash from Financing Activity + | -26 | -9 | 169 | -5 | -54 | -56 | 0 |
| Net Cash Flow | -29 | -6 | -5 | 43 | -8 | 16 | 15 |
| Free Cash Flow | 14 | 43 | -50 | 86 | 118 | 72 | 127 |
| CFO/OP | 69% | 93% | 70% | 102% | 82% | 78% | 97% |
Financials of Bikaji Foods International Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 14 | 13 | 17 | 15 | 16 | 14 | 13 |
| Inventory Days | 22 | 26 | 27 | 21 | 20 | 22 | 22 |
| Days Payable | 8 | 20 | 16 | 14 | 14 | 14 | 12 |
| Cash Conversion Cycle | 27 | 20 | 28 | 21 | 22 | 22 | 23 |
| Working Capital Days | 7 | -4 | 14 | 19 | 16 | 28 | 24 |
| ROCE % | 19% | 13% | 18% | 29% | 18% | 20% |
Guidance history
How Bikaji Foods International Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 0–2% | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
5 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −38.7% | 14% |
| Last 6 months | −33.3% | 7% |
| Last 3 months | −29.7% | 6% |
The price is 52.9% below its all-time high of ₹959.05 (27 Sept 2024). Stocks more than 20% below their peak have their score halved, so 9 became 5.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Bikaji Foods International Ltd: 0.4 × 14 + 0.4 × 7 + 0.2 × 6 = 9, halved to 5 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Bikaji Foods International Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
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